BlockchainReporter Weekly Crypto News Review: Transformative Collaborations and Innovations

Welcome to this week’s crypto news review. This week, we witnessed significant collaborations, innovative platforms, and pioneering technologies that are shaping the future of decentralized finance (DeFi). This edition highlights significant collaborations and groundbreaking advancements, including Ripple and Axelar’s partnership to enhance XRPL interoperability, the launch of DWF Labs’ Liquid Markets for OTC trading, and CoinGecko’s integration of on-chain DEX data. Moreover, it covers Shiba Inu’s adoption of Fully Homomorphic Encryption for privacy and Ankr’s revolution in blockchain infrastructure with advanced RaaS capabilities. Let’s delve into these transformative news pieces and their implications for the industry.

Ripple and Axelar Partner to Enhance XRPL Interoperability

Ripple and Axelar have united to enhance the interoperability of the XRP Ledger (XRPL) over diverse blockchain networks. The partnership is set to launch in May. Their collaboration aims to simplify asset transfers across over 55 connected blockchains. It will allow secure and efficient movement of assets and open new opportunities for developers. The integration will bolster XRPL’s decentralized finance (DeFi) ecosystem by increasing liquidity for stablecoins and large-cap assets. Moreover, developers will leverage XRPL’s features like its decentralized exchange (DEX) and payment system to enhance DeFi capabilities. Additionally, cross-chain decentralized app (dApp) deployment on XRPL will be enabled.

Axelar’s cross-chain security approach, based on permissionless proof-of-stake validation, ensures the secure integration of XRPL into its network infrastructure. Georgios Vlachos of Axelar protocol underscored the importance of integrating different consensus mechanisms into a unified environment. David Schwartz, Ripple’s CTO, sees blockchain interoperability as a catalyst for innovation, especially in DeFi, fostering a more interconnected ecosystem. This partnership builds upon Ripple’s XLS-38 proposal, aiming to broaden XRPL interoperability by bridging it with Axelar’s network ecosystem.

DWF Labs Unveils Liquid Markets, Transforming OTC Crypto Trading

DWF Labs has introduced a cutting-edge platform called Liquid Markets. Liquid Markets is designed to facilitate over-the-counter (OTC) trading of blue-chip coins and altcoins. The platform promises uninterrupted access to institutional-grade business solutions. The platform aims to revolutionize the digital assets market by offering liquidity connections and providing swift and secure settlement of OTC transactions. Liquid Markets stands is unique for its deep liquidity and robust support for automatic trading through its advanced API. By partnering with leading digital asset infrastructure firms, Fireblocks & Talos, the Liquid Markets aims to enhance wallet security and user experience.

The collaboration between DWF Labs, Talos, and Fireblocks represents a pivotal milestone in fulfilling Liquid Markets’ mission to support OTC trading needs. Moreover, Fireblocks contributes its top-notch wallet and secure custody technology, known for safeguarding over $4T in transactions. Likewise, Talos brings its high-throughput, low-latency infrastructure, further popularizing crypto assets among institutions. The integration with Talos and Fireblocks not only enhances the security of Liquid Markets but also expands its global reach. DWF Labs prioritizes compliance with strict regulatory standards like AML, KYC, and the travel rule to guarantee a safe trading environment. With the recent launch of Liquid Markets, DWF Labs is inviting global institutions to explore the future of over-the-counter trading.

CoinGecko Introduces On-Chain DEX Data in Enhanced Crypto API

CoinGecko, the largest independent crypto data aggregator, has unveiled a groundbreaking update to its API by integrating decentralized exchange data. This enhancement offers crypto projects and developers easy access to a wide range of data, including crypto prices, markets data, metadata, and liquidity pool information for crypto not previously available on CoinGecko. This integration signifies a significant advancement, expanding the CoinGecko API to cover 2.2M tokens and 2.5M cryptocurrency liquidity pools.

The updated feature is now available to all the paid API subscribers, introducing around 20 unique endpoints by covering diverse datasets. It simplifies the search for cryptocurrency pools specific to any network, enhancing the API’s utility. This announcement is following CoinGecko’s acquisition of Zash, a non-fungible token data infrastructure firm in Nov 2023, demonstrating CoinGecko’s commitment to expanding services and maintaining its leadership in cryptocurrency data aggregation. Since its launch back 10 years in 2014, CoinGecko has been a trusted source for millions of crypto investors worldwide, providing comprehensive market insights. Alongside the API upgrade, the GeckoTerminal continues to serve as a vital resource for traders, tracking over 2M tokens and cryptocurrency liquidity pools across various DEXs.

Shiba Inu Advances Privacy and Security with New Encryption Integration

In a bold move for the cryptocurrency world, SHIB, the entity behind the popular digital currency Shiba Inu, has introduced Fully Homomorphic Encryption (FHE) into its platform. This significant update is poised to elevate privacy standards for $SHIB users and developers, establishing the Shiba Inu community as pioneers in Web3 security. Powered by $TREAT, this new privacy layer safeguards personal and transactional data against cyber threats. It will reinforce user privacy and positioning Shiba Inu as a leader in adopting advanced security technologies in blockchain.

Collaborating with Zama, a prominent name in Web3 encryption, SHIB aims to create a more secure and user-centric network without compromising user experience. Shytoshi Kusama, leading the Shiba Inu project, highlighted the importance of this milestone, emphasizing the community’s need for privacy and security. From Zama’s perspective, CEO Rand expressed excitement about the partnership, foreseeing the integration of FHE technology as a pivotal step in blockchain privacy and security standards.

Ankr Revolutionizes Blockchain Infrastructure with Advanced RaaS Capabilities

In a significant move for Web3 infrastructure development, Ankr unveils an expanded RaaS (Resource as a Service) solution tailored for developers and enterprises. Ankr reaffirms its commitment to supporting the modular blockchain era with this latest offering. The enhanced RaaS platform enables users to build stacks with leading partners such as ZKsync, Optimism, and Polygon. Ankr introduces ankrETH integration in its liquid staking program, allowing developers to use ankrETH for gas fees. Kev Silk, Sr. Product Manager of Ankr RaaS, emphasized the company’s goal to make launching Layer 2 solutions as seamless as website publishing during the dot-com era.

At the heart of Ankr’s RaaS lies its high-performing, bare metal infrastructure, tested through handling 2 trillion transactions annually. This robust foundation ensures Ankr meets and exceeds RaaS demands, offering scalable and reliable service for the evolving needs of the Web3 space. Ankr’s commitment extends to end-to-end engineering, customization, and maintenance, backed by partnerships with leading blockchain frameworks like Polygon CDK, OP Stack, and ZK Stack. The globally distributed network of nodes, combined with Ankr’s integration with the Eigen Layer, guarantees unmatched speed and reliability for applications. As the approved infrastructure partner for major blockchain ecosystems, Ankr simplifies blockchain development, providing bespoke solutions for various use cases.